The National Medicines Regulatory Authority has warned of a possible increase in medicine prices due to rising foreign exchange rates and escalating production, transport, and insurance costs.

NMRA Chairman Ananda Wijewickrama said pharmaceutical companies have requested at least a 7% price hike for 60 medicines currently under price control, in a letter addressed to Health Ministry Secretary Anil Jasinghe.

State Pharmaceutical Corporation Chairman Shantha Bandara noted that the depreciation of the rupee against the US dollar has significantly increased import costs.

Officials say rising expenses related to raw materials, packaging, shipping, and electricity are also contributing to the pressure, with both importers and local manufacturers seeking price adjustments.